March 14, 2007, 5:01 pm

Tech ipos

It has been a pretty ugly time for tech ipos lately. They've been pricing nearly every one above range still(fire/bbnd):

FIRE: Currently trading 90 X's '07 earnings, broke above range pricing, currently 18% above day 1 open:

CLWR: no '07 earnings, broke top of range pricing, and 25% below day 1 open:

OPXT: Currently trading 80 X's '07 earnings, has not broken top of range pricing and 1% below day 1 open:

SLRY: no '07 earnings, has not broken above range pricing, 15% below day 1 open.

SDXC: no '07 earnings, not broken above range pricing(yet), 18% below day 1 open:

MLNX: 40 X's '07 earnings, has broken an above range pricing, 20% below day 1 open:

ISLN: no '07 earnings, has not broken an above range pricing, currently 20% below day 1 open:

DBTK: 30 X's '07 earnings, has broken top of range pricing, currently 4% above day 1 open:

GUID: 110 X's '07 estimates, has broken a below range pricing, currently 11% below day 1 open:

IPGP: Currently 30 X's '07 estimates, has not broken above range pricing, currently 30% below day 1 open:

NLST: currently 14 X's '07 estimates, has broken a bottom of range pricing, currently trades flat with opening prints:

OPTM: 30 X's '07(untaxed) earnings, has not broken above range pricing currently 13% below open prints:

APKT: 42 X's '07 estimates, has not broken an above range pricing, currently flat with opening prints:

CVLT: 32 X's '07 earnings, has not broken top of range pricing, slightly above opening prints:

DIVX: 45 X's 07 earnings, has not broken an above range pricing, slightly above opening prints:

RVBD: 90 X's '07 earnings, has not broken an above range pricing, currently nearly 100% above opening prints:

pretty eye-opening huh.....take-away is: aggressive pricings and even more aggressive openings, no earnings or very high multiples, and overall a lot of money lost if buying and holding those opening prints.

They've simply been pricing and opening these tech ipos way too aggressively overall since the success of RVBD/DIVX. Been nothing short of a disaster overall since for anyone eager to buy as soon as they open for trading on their first day.

Disclosure: http://www.tradingipos.com has no position in any of the above stocks at time of post. We may or may not take a position in any of the above stocks mentioned at some future time.

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